https://www.taxtmi.com/circulars?id=11707 The Circular prescribes the Reserve Bank's consolidated licensing, expansion and operational requirements for AMCs/FFMCs/ADs: corporate registration and minimum Net Owned Funds; documentation, auditor certification and fit and proper assessments; prior approval for additional branches and franchise arrangements with due diligence, reporting and distance limits; operational rules on purchases/sales, payment modes, encashment certificates, registers (FLM forms) and settlement methods; KYC/AML/CFT policies with risk based customer due diligence, record retention for ten years, CTR/STR reporting to FIU IND; concurrent audit and Reserve Bank inspection powers; and revocation powers for non compliance. en-us Mon, 02 Jul 2012 00:00:00 +0530 Tue, 03 Jul 2012 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11707 The Circular prescribes the Reserve Bank's consolidated licensing, expansion and operational requirements for AMCs/FFMCs/ADs: corporate registration and minimum Net Owned Funds; documentation, auditor certification and fit and proper assessments; prior approval for additional branches and franchise arrangements with due diligence, reporting and distance limits; operational rules on purchases/sales, payment modes, encashment certificates, registers (FLM forms) and settlement methods; KYC/AML/CFT policies with risk based customer due diligence, record retention for ten years, CTR/STR reporting to FIU IND; concurrent audit and Reserve Bank inspection powers; and revocation powers for non compliance. Circulars FEMA Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11707